Freedom Mentor Funding is a private money resource for real estate exclusive to participants in the Freedom Mentor Apprentice Program. It is an asset based lending source which does not involve personal financial qualifications that a conventional bank loan would require borrowers to provide such as a strong credit rating or high paying job. Instead, the real estate, the property, the deal itself, along with the borrowers participation in our highly advanced real estate training and mentoring program, are the qualifiers. In some instances, the funding is similar to a hard money loan, in others, it is akin to transactional funding, and still in other cases, it is best described as simply private money. Every real estate deal is different so we do not feel that funding should be provided in a cookie cutter fashion. Therefore, we strive to be flexible in developing the right funding plan based on the details of each individual deal.
Freedom Mentor Funding Money Source
The actual source of the money could be the company Freedom Mentor itself, the owner of the company personally or even other program participants that want to lend their money to fund deals and make a good return. Typically, fellow participants who fund deals use their self directed retirement accounts since they can't "be their own bank" with their own retirement funds and therefore must lend to someone else. So, on the closing statement, it may not say Freedom Mentor Funding as the lender, but instead could be the name of a retirement account or an LLC.
Freedom Mentor Funding Participation
If you are seeking funding for your real estate deals but are NOT a part of the Freedom Mentor Apprentice Program, then you would not be able to participate with Freedom Mentor Funding. We must know with certainty that you know exactly what you are doing when it comes to investing in real estate. We feel very confident that participants of our Apprentice Program understand real estate investing at a level necessary to ensure the money is safe. You may have a tremendous amount of investing experience and may wish to request an exception because you consider yourself a seasoned veteran, but we have learned the hard way that we can only be certain that those in our program have the depth and breath of knowledge necessary to ensure Freedom Mentor Funding money is safe and secure with an intelligent investor at the helm.
Freedom Mentor Funding Step by Step Process
For those who are Apprentice Program participants and want to get a deal funded, here is the process of securing Freedom Funding:
Step 1 - Submit Freedom Funding Request: Do not submit a request unless you have already gotten the property under contract and completed a title search.
Step 2 - Preliminary Underwriting: We review your deal and provide feedback on what funding options may be available as well as you next action steps.
Step 3 - Complete Prescribed Steps: Finish any actions required by our team to prepare the deal for underwriting.
Step 4 - Final Underwriting: The deal is put through our final underwriting process, in some cases is presented to our funding network and we work out any other details necessary to fund the deal.
Step 5 - Closing: The closing is scheduled, we work with the closing firm to make sure all the procedures and paperwork are correct and then we close.
Frequently Asked Questions
How Does the Funding Work Exactly? What are the Terms? What is the Interest Rate?
This is not a simple answer. There is much to the subject of funding real estate investing deals so we have developed a video training on the subject to help educate you on exactly how the funding works, what the terms and interest rates may be depending on the type of deal as well as other factors that influence how a deal is funded.
Do you provide of Proof of Funds letters?
Yes, once your deal has been initially reviewed and put through our preliminary underwriting process. Request a Proof of Funds letter here
How can I fund other participants deals and be one of the money sources of Freedom Funding?
If you want to be added to the freedom funding network of money sources, send a message to our staff with your request an you'll be added to the list. Each time a deal comes along that requires funding, you will be notified by email of the details of the deal and the terms of the funding.